https://www.taxtmi.com/caselaws?id=39055 An advance-tax estimate is treated as deliberately false, attracting penalty under section 18A(9) of the Indian Income-tax Act, 1922, where the assessee already had the sale proceeds and therefore knew the exact income figure at the time of filing. On those facts, omission of the ascertained amount was not an accidental error or the result of uncertainty in estimation. The High Court held that the assessee knowingly filed an untrue estimate to avoid proper advance tax, so deletion of the penalty was unjustified and the penalty was sustained. en-us Fri, 11 Jul 1975 00:00:00 +0530 Mon, 12 Apr 2010 12:21:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39055 An advance-tax estimate is treated as deliberately false, attracting penalty under section 18A(9) of the Indian Income-tax Act, 1922, where the assessee already had the sale proceeds and therefore knew the exact income figure at the time of filing. On those facts, omission of the ascertained amount was not an accidental error or the result of uncertainty in estimation. The High Court held that the assessee knowingly filed an untrue estimate to avoid proper advance tax, so deletion of the penalty was unjustified and the penalty was sustained. Case-Laws Income Tax Fri, 11 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39055